A legislative study committee began work this week (June 17, 2024) on examining the methodology of assessing property taxes in South Dakota.
But, Committee Co-Chair Senator Randy Diebert of Spearfish says that doesn’t mean you should expect to see a property tax rate cut.
Property taxes have been on the rise as property values increase. Even with that, State Revenue Secretary Mike Houdyshell says the tax burden in the Rushmore State is comparatively low.
County officials are responsible for assessing property valuations for tax purposes, meaning there could be differences across the state.
The Committee will meet several times before wrapping up the study in October.
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